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QUESTIONS AND PROBLEMS

Accessing your bill

Consult the page on MITPAY trouble-shooting tips. If you need more help, contact Student Financial Services at ssc@mit.edu or 617-258-8600.

Meeting payment deadlines

If you have difficulty making a payment on time, contact your student account counselor. They are your resource for working through payment issues and reviewing payment options, including the MIT Monthly Payment Plan.

If you aren’t on the MIT Monthly Payment Plan and your student account is past due, we bill you a late payment fee of 1.5% per month (18% annually) on the past due amount. In addition to late payment fees and finance charges, a financial hold may occur. A financial hold – which can prevent you from registering or receiving your diploma – will occur if you have a student account balance from a prior term, a past-due MIT loan, unpaid Institute charges or a returned check. A financial hold may also cause MIT student services to be revoked.

If you leave MIT or graduate with an unpaid balance and don’t make payment arrangements, you may be reported to credit reporting agencies and/or placed with an outside collection agency.

Returned checks

If your check is returned unpaid by your bank, we’ll inform you by e-mail. We’ll require a new payment immediately and we’ll charge your student account with a $30 fee, plus a retroactive finance charge or late payment fee, if applicable. Your bank also charges you for the returned check.

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